Home ECONOMY Gross direct tax collection up 11 percent

Gross direct tax collection up 11 percent

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New Delhi, March 5:

The government Thursday reported an increase of 10.67 percent in gross direct tax collection at Rs.612,432 crore during during April-February 2014-15 on the back of healthy growth in revenues from corporate taxes.

tax--621x414The gross direct tax collection in the corresponding period of last fiscal stood at Rs.553,373 crore.

Gross collection of corporate taxes rose by 9.99 percent to Rs.379,917 crore, while the collection from personal income tax increased by 11.10 percent at Rs.225,313 crore.

Collection from securities transaction tax (STT) was up by 45.44 percent and stood at Rs.6,280 crore.

Net direct tax collections were up by 6.88 percent and stood at Rs.506,765 crore from Rs.474,146 crore in the like period of last fiscal.

Advance tax collections grew by 13.41 percent during the period under review as against the growth of 8.67 percent shown during the corresponding period of last fiscal.

Growth in tax deduction at source (TDS) was 7.49 percent from an increase of 16.69 percent in like period of last fiscal. IANS